The Malaysia Islamic Economic Development Foundation (Yapeim) said it was prepared to be investigated over any allegations of wrongdoing against the organisation.

"Yapeim is always open and will give full cooperation to any investigating authority if there are wrongdoings in our administration, management and operations," Yapeim director-general Abibullah Samsudin was quoted as saying by Bernama.

He was responding to a series of press conference by the National Oversight and Whistleblowers (NOW) which alleged misappropriation in the organisation.

In the latest allegation today, NOW claimed that Yapeim's funds were used for a minister's trip in the US.

Abibullah, who is also Yapeim group chief executive, stressed that the organisation always held to the principles of syariah and high integrity in its management and operations.

"Yapeim is governed by a board of trustees and syariah committee that constantly oversees all its operations," he said.

He added that the organisation had been audited by the National Audit Department since its inception.

Set up in 1976, Yapeim was tasked with welfare work through the development of Islamic economic activities.